Ciba Speciality Chemicals (India) has reported a net profit of Rs 8.52 crore for the year ended March 31, 1998, up from Rs 5.29 crore in the previous year. Net sales were also higher at Rs 311.83 crore as against Rs 236.67 crore. The board of directors has recommended a dividend of Rs 2.70 per share which is more than last year's Rs 2 per share. As approved at the last annual general meeting, the company's domestic dyes business was transferred to the joint venture, Indo Swiss Textile Chemicals, from September 1, 1997 and the pigments business to Pigments Specialities India with effect from May 1 this year.

Gujarat Co-operative sales up 21%

Anand-based Gujarat Co-operative Milk Marketing Federation, engaged in sales of `Amul' brand of milk products and `Dhara' edible oils, has registered sales of Rs 1,884 crore in 1997-98, an increase of 21 per cent over the previous fiscal. Addressing the annual general meeting at Anand on Friday,chairman V Kurien said the federation has achieved an annual growth rate of over 20 per cent for the fourth consecutive year.

Ashapura Minechem net at Rs 8.15 cr

Ashapura Minechem Ltd has registered a profit before tax of Rs 11.15 crore for the financial year ending March 31, 1998. The company has achieved an increase in net profit of Rs 8.15 crore for 1997-98 against Rs 7 crore recorded in the previous year. The board of directors have recommended a higher dividend of 30 per cent from 25 per cent paid previously. The company expects to achieve a turnover of Rs 90 crore in 1998-99 and cross Rs 100 crore by the year 2000.

Esab India to pay 25%

Esab India Ltd has recorded a profit after tax growth of 15 per cent from Rs 8.27 crore to Rs 9.53 crore for the financial year ending March 31, 1998. The company has also recorded a sales growth of 6 per cent over the previous year with exports registering a significant growth of 27 per cent. The long term debt equity ratio has also steadilyimproved and is not at an attractive level of 0.1:1. The board has decided to step up the dividend from 20 per cent to 25 per cent.

Thirumalai Chemicals net dips by 31%

A 57.56 per cent jump in the interest costs and a 62.15 per cent hike in the depreciation costs due to an expansion project in Malaysia, led a 31 per cent dip in the net profit of Thirumalai Chemicals Ltd for the year 1997-98. Turnover increased by 4 per cent to Rs 141.6 crore in 1997-98 from Rs 135.96 crore in 1996-97.

Other income, however, declined by 19 per cent from Rs 5.81 crore to Rs 4.71 crore. Operating margins increased by 8.3 per cent this year. Interest costs shot up by 57.56 per cent from Rs 5.89 crore to Rs 9.28 crore and depreciation jumped from Rs 6.34 crore to Rs 10.28 crore. Net profit fell by 31 per cent to Rs 11.32 crore from Rs 16.42 crore last year. The company has, however, maintained its dividend at Rs 4 per share.

International Travel House net slips: Net profit of International Travel House, anITC group company, has slipped to Rs 3.20 crore during the year ended March 1998 against Rs 3.51 crore in the previous year. Turnover has risen 9.6 per cent to Rs 140.76 crore from Rs 128.39 crore. The board of directors has decided to keep the dividend unchanged at 20 per cent for 1997-98. Foreign exchange earnings of the company shot up to Rs 7.30 crore in 1997-98 from Rs 1.90 crore in the previous year. A statement issued by the company after the board meeting said the economic and political events of the past year have created an overall business environment of unpredictability and have affected the profit margins of the company.

Ball bearing merchants' bandh

Trading of ball and roller bearings all over the country came to a standstill on June 26 following the trade bandh call given by the All India Ball Bearing Merchants' Association to protest against the irrational import duty structure. According to a press release issued by the association, the strike was total in Mumbai, Delhi, Chennaiand Calcutta. Representatives of the association handed over a memorandum to the chief commissioner of custom in Mumbai, BK Bakshi, and sought his intervention, said the association president Prem Harchandrai.